Zacks Research Upgrades Itron (NASDAQ:ITRI) to "Strong-Buy"

Key Points

• Zacks Research upgraded Itron to “Strong Buy” from “Hold.” Across analysts, Itron has a “Moderate Buy” consensus rating and a consensus price target of $131.33.
• Itron’s latest quarterly earnings beat expectations, with EPS of $1.59 versus the $1.29 consensus estimate, although revenue declined 7.2% year over year to $562.9 million.
• Institutional investors own 96.19% of Itron’s shares, with several major funds increasing their positions; recent insider sales were primarily made to cover tax withholding on vested equity awards.

Itron (NASDAQ:ITRI - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on ITRI. Roth Capital restated a "buy" rating and set a $136.00 target price on shares of Itron in a research note on Wednesday, April 29th. Robert W. Baird set a $125.00 price target on Itron in a report on Wednesday, July 29th. Needham & Company LLC boosted their price target on Itron from $116.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Weiss Ratings restated a "hold (c)" rating on shares of Itron in a report on Wednesday, August 5th. Finally, TD Cowen decreased their price objective on shares of Itron from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $131.33.

Itron Price Performance

Shares of ITRI stock opened at $97.53 on Thursday. The company has a market cap of $4.27 billion, a P/E ratio of 16.28, a PEG ratio of 1.19 and a beta of 1.30. Itron has a 1-year low of $77.77 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.75 and a quick ratio of 2.29. The stock's 50-day moving average is $92.32 and its 200 day moving average is $90.08.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.30. Itron had a return on equity of 19.26% and a net margin of 11.90%.The business had revenue of $562.90 million for the quarter, compared to the consensus estimate of $566.34 million. During the same period in the prior year, the firm posted $1.62 earnings per share. The business's quarterly revenue was down 7.2% on a year-over-year basis. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. Research analysts predict that Itron will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Itron news, SVP John F. Marcolini sold 331 shares of Itron stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $98.79, for a total transaction of $32,699.49. Following the completion of the sale, the senior vice president owned 12,683 shares of the company's stock, valued at approximately $1,252,953.57. The trade was a 2.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 329 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $98.79, for a total value of $32,501.91. Following the sale, the senior vice president owned 27,945 shares in the company, valued at approximately $2,760,686.55. The trade was a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,693 shares of company stock worth $759,475 in the last 90 days. Insiders own 1.77% of the company's stock.

Institutional Investors Weigh In On Itron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in shares of Itron by 7,889.6% in the 2nd quarter. California State Teachers Retirement System now owns 4,397,628 shares of the scientific and technical instruments company's stock valued at $380,527,000 after buying an additional 4,342,586 shares during the period. Dimensional Fund Advisors LP grew its position in Itron by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company's stock valued at $137,659,000 after buying an additional 265,039 shares during the period. Geode Capital Management LLC raised its position in shares of Itron by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,144,982 shares of the scientific and technical instruments company's stock worth $106,340,000 after acquiring an additional 6,598 shares during the period. First Trust Advisors LP lifted its position in shares of Itron by 22.2% during the 1st quarter. First Trust Advisors LP now owns 969,228 shares of the scientific and technical instruments company's stock valued at $86,872,000 after buying an additional 176,053 shares in the last quarter. Finally, Norges Bank purchased a new position in Itron in the 4th quarter valued at about $63,990,000. 96.19% of the stock is owned by institutional investors and hedge funds.

About Itron

Itron, Inc NASDAQ: ITRI is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company's offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron's product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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